A Lebanese company has raided Kenya Pipeline Company's bank accounts, claiming that the company has refused to pay more than Sh926 million owed to it following a contract to build a pipeline from Mombasa.
In its case filed before the Commercial Court, Zakhem International Construction Limited wants the court to attach KPC's bank accounts held in Standard Chartered Bank, Equity Bank, and Stanbic Bank. The firm argues that despite being severally ordered to pay the debt, the corporation failed to honour its end of the bargain. "The respondent is undeniably and unlawfully indebted to the applicant to USD 7.1 million (Sh926 million).
Despite any tactics, manoeuvres or attempts to delay or frustrate the execution of the decree, this debt remains due and payable.
The respondent's continued evasion has not extinguished its legal obligation, nor does it diminish the applicant's right to recover the outstanding sum," argued Zakhem's lawyer, Ahmednasir Abdullahi.
